Ashford Hospitality Trust Declares Second Quarter Dividends

Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced the Board of Directors has declared its quarterly common stock dividend of $0.21 per diluted common share, payable on July 15, 2008, to shareholders of record on June 30, 2008. On an annualized basis the dividend equates to a 15.1% dividend yield based on the Company's closing price on June 12, 2008.

Separately, the Board declared a quarterly cash dividend of $0.5344 per diluted share for the Company's 8.55% Series A Cumulative Preferred Stock for the second quarter ending June 30, 2008. The dividend, which equates to an annual rate of $2.1375 per share, is payable on July 15, 2008, to shareholders of record as of June 30, 2008.

The Board also has declared a quarterly cash dividend of $0.528125 per diluted share for the Company's 8.45% Series D Cumulative Preferred Stock for the second quarter ending June 30, 2008. The dividend, which equates to an annual rate of $2.1125 per share, is payable on July 15, 2008, to shareholders of record as of June 30, 2008.

Ashford Hospitality Trust is a self-administered real estate investment trust focused on investing in the hospitality industry across all segments and at all levels of the capital structure, including direct hotel investments, first mortgages, mezzanine loans and sale-leaseback transactions. Additional information can be found on the Company's web site at www.ahtreit.com.